Hitachi Energy has plans to invest an additional $4.5 billion by 2027 to accelerate the clean energy transition.
It plans to double its investments in manufacturing, engineering, digital, R&D, and partnerships across all major markets from 2024 to 2027.
The investments will enable the company to meet customer commitments and market demand, as part of its clean energy transition strategy. The company has plans to increase its global R&D and engineering. Plans are afoot to increase manufacturing capacity of transformers, high-voltage direct current (HVDC), and high-voltage products.
It will support the deployment of power electronics-based solutions, grid automation, software solutions, and services in line with the Hitachi Energy 2030 Plan.
Hitachi Energy is also investing around $330 million to expand and modernize its flagship factory in Ludvika and a new campus in Vasteras, Sweden, across all product portfolios.
The company aims to meet the demand for power grid systems combined with digital solutions and services, highlighting the importance of new business models, harmonization of designs, and partnerships in the energy transition.
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